Japanese global entertainment giant Sega Sammy Holdings has announced after a board of Directors meeting that it has agreed to enter into a definitive deal to acquire Netherlands-based iGaming content developer Stakelogic B.V.
additional earnout payment contingent on specific performance metrics”
According to a news release, the deal will include €130m ($141m) upfront, with “an additional earnout payment contingent on specific performance metrics.”
The buyout will merge Stakelogic’s portfolio of online slot games, live casino table games, and live online roulette/blackjack/baccarat-based game show capabilities with Sega Sammy’s worldwide distribution platform.
Prompting Sega Sammy’s acquisition is Stakelogic’s in-house games development pedigree, which allows it to rapidly develop and release “new and innovative content.”
Sega Sammy believes Stakelogic will complement its 2023 purchase of California gaming provider GAN Limited by enhancing GAN’s B2B competitiveness, while also accelerating Sega’s “growth in the gaming market.”
According to industry media, Stakelogic CEO Stephan van den Oetelaar said the takeover by Sega will allow the Dutch firm to “grow its international operations much faster.” He added that the union with Sega gives Stakelogic “the execution power to become one of the leading players in the iGaming B2B industry.”
Sega Sammy’s Senior Executive Vice President and Group CFO Koichi Fukazawa said it was his company’s objective to establish its presence as a technology driven creative B2B solution provider, “especially in the North American online gaming market.”
Fukazawa said the acquisition of Stakelogic will play a “crucial” strategic role in boosting Sega’s iGaming content reach. Sega was cognizant, however, that there are currently only seven US states with a regulated iGaming market.
In its news release announcing the Stakelogic buyout, Sega stated that if the Japanese brand managed to “enter the U.S. iGaming market before broad legalization, it could provide a promising opportunity” to increase its brand awareness in a market expected grow to $27.1bn in size by 2027.